Vantiv payment processing services and related technology solutions for merchants and financial institutions announced Anheuser-Busch Employees’ Credit Union (ABECU) enlisted its debit and credit processing services under a multi-year agreement. Vantiv makes debit and credit card issuing easy with its technology and account management tools. Allowing financial institutions to focus on expanding customer relationships and the growth of their portfolios, Vantiv also helps maximize cardholder touch points with its state-of-the-art mobile and online account access, and customized cards. The company’s 24-hour contact center provides around the clock support for cardholders who have questions or need assistance.
Swift financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries and territories, and the Banking Commission of the International Chamber of Commerce (ICC), announced new legal and technology standards for Bank Payment Obligation (BPO) are now available. The BPO is a new payment term that allows buyers and suppliers to secure and finance international trade transactions. It provides the benefits of a letter of credit in an automated and secured environment, and enables banks to offer flexible risk mitigation and enhanced financing services to their corporate customers. The BPO rules will establish uniform practices for BPO market adoption. Together with the ISO 20022 messaging standards, these rules provide an industry wide foundation for banks to develop risk and financing services aligned with today’s technology.
Fiserv financial services technology solutions launched its “Popmoney Instant Payments.” Available now to eligible financial institutions that offer “Popmoney,” “Instant Payments” lets users send money credited to the recipient’s account within seconds. This feature extends the functionality of the Popmoney social person-to-person payments service, making it indispensable when an immediate exchange of money is required. Uses could include making a last-minute rent payment, sending money to a family member in an emergency or paying a small business or service provider upon completion of a project. The “Popmoney Instant Payments” leverages extensive portfolio of payment capabilities from Fiserv to enable fast and secure money movement. The “Popmoney” platform intends to expand its connectivity options through other networks and connection points.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Steve Elefant is the new GoPago Chief Strategy Officer. Bringing with him over 25 years’ in the industry, most recently with Google Payments as a consultant and Heartland as CIO, Elefant intends to lead GoPago growth in new channels and further develop its “GoPago LIVE” all-in-one cloud POS. As a Senior…
The Jack Henry Banking division announced two Tennessee-based banks, Volunteer Federal Savings Bank and Peoples Bank of the South, selected its “CIF 20/20” core processing platform to provide enterprise-wide automation. THE “CIF 20/20” processor is automating approximately 700 growth-focused, service-oriented banks by integrating parameter-driven core functionality with more than 120 complementary products and services. This market presence makes “CIF 20/20” one of the most widely installed core banking systems in the U.S. Its flexible architecture and relational database, ability to support both in-house and outsourced operating environments, and scalable hardware platform maximize operating flexibility and seamlessly support banks’ near- and long-term technology requirements.
USA Technologies wireless, cashless payment and M2M telemetry solutions has renewed and increased its working capital line of credit with Avidbank Corporate Finance. The agreement increases the amount available under the credit line from $3 million to up to $5 million, and renews the credit line for another twelve month period.
Mercury Payments Systems announced Nick Nayfack, director of product at Mercury, accepted a seat on the Electronic Transactions Association’s (ETA) Mobile Payments Committee. Here he will develop best practices in mobile commerce with industry peers to enable merchants and consumers to navigate technological “ease-of-use.” Mercury designs and implements a “one-stop shop” experience for payment acceptance by retail and hospitality merchants by offering a multitude of new and traditional payment products, software and services all focused on small business solutions for “Main Street.”
Fiserv inancial services technology announced its debit payments network, formerly known as ACCEL/Exchange, is now just “Accel.” Reflecting the network’s ability to accelerate funds transfers across retail, biller and social person-to-person payments, and positions the network within the Fiserv portfolio of payments capabilities to create the world’s leading real-time network, the name change is appropriate. Accel supplies infrastructure for financial institutions to give cardholders around-the-clock access to their demand deposit account funds at ATMs and the point of sale, with 55 million debit cardholders, 3,100 financial institutions, 340,000 ATMs and more than 3 million merchant locations.
Net Elemen electronic commerce and mobile payment processing completed the acquisition of Unified Payments transaction processing services and payment-enabling technologies. Unified Payments is a socially responsible provider of payment services across the United States, processing in excess of $10 billion in volume between 2010-2013. The acquisition positions and diversifies Net Element International’s mobile payments business and creates a new platform division “TOT Group, Inc.”, with focus on global mobile payments and transaction processing markets. Net Element International has already initiated the integration and localization of Unified Payments’ products and services in Russia and other emerging markets and will now reap the benefits of Unified Payments’ market penetration in the U.S. The completion of the Unified Payments acquisition positions Net Element International’s TOT Group to maximize the benefits of a significant growth market opportunity.
American Express announced the promotion of Edward P. Gilligan to president, having served as vice chairman since 2007. He was previously named head of a Business-to-Business, responsible for the company’s relationships with merchants, corporations and bank partners globally. Having joined AmEx in 1980, Gilligan has led several different American Express businesses earlier in his career. In 1995, he was named business unit president of Commercial Card and Business Travel for the United States. He was named group president in 2002, overseeing the International Consumer Card business and the company’s global portfolio of Payment and Travel Services for corporate clients.
Global Payout is launching its newly designed MoneyTrac Consolidated Payment Gateway through its licensing agreement with Intradata Solutions. Implementation allows companies to load online accounts with payroll, commissions or rebates for U.S. and international accountholders. Initially developed as a banking platform for several Fortune 500 corporations, the Payment Gateway will be able to easily access online accounts, letting users choose how to access their funds through three transfer options. First, transfers can be made to their bank account. Second, accountholders can transfer funds to any credit or debit card, worldwide. And finally, accountholders can choose to gain immediate access to funds by loading to their domestic or international prepaid card that can be ordered directly from their online account.
Accenture (ACN) enhanced its Software solutions to help banks create stronger customer relationships through multichannel interactions and personalized offerings and increase internal efficiencies. Its new features on the Multichannel Platform 2.0 and Accenture Product and Fee Factory 2.0 software let banks offer customers choice in channel interactions, bring more visibility and efficiency to operational tasks and capitalize on customer relationships through personalized offerings. The Accenture Multichannel Platform 2.0 software allows banks to quickly develop and integrate new and existing customer channels, all at a reduced cost. It is designed to help banks improve customer experiences by offering integrated banking services accessible via the web and mobile devices, as well as through branches, call centers and ATMs.